Oscars 2017: Winners, losers and top show moments

Potentially affecting this year's low ratings was the fact that none of the Best Picture nominees were box office hits.

The award's winner, "Moonlight," earned just $25.2 million during its theatrical run.

The 1998 Oscars, on the hand, was the highest-rated ever and that telecast was buoyed by the success of that year's Best Picture winner "Titanic," which grossed more than $2 billion worldwide.

Despite this year's low numbers, the 2017 Oscars were notable thanks to a gaffe at the end that saw presenter Faye Dunaway mistakenly announce "La La Land" as the winner of Best Picture, instead of rightful winner "Moonlight."